2) A roulette wheel has 38 slots. 36 of them are the numbers 1 - 36. The remaining 2 are "0" and "00". You can bet on a single number and if the ball lands on your number you win 35 chips plus the chip you bet.

a. If each chip is worth $1, what is the expected value for a player who bets the number 17 for a long period of time?

Feb 3rd 2010, 09:22 PM

Soroban

Hello, mdenham2!

Quote:

2) A roulette wheel has 38 slots.
36 of them are the numbers 1 - 36. The remaining 2 are "0" and "00".
You can bet on a single number.
If the ball lands on your number, you win 35 chips plus the chip you bet.

a. If each chip is worth $1, what is the expected value for a player
who bets the number 17 for a long period of time?